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Tanker Shipping Facing a Tough Year Ahead, says BIMCO
After a turbulent year, low demand looks set to plague the market in the coming months combined with too many ships fighting for too few cargoes in both the crude oil and oil product segments, says the Oil Tanker shipping overview and outlook released today by BIMCO.Demand drivers and freight ratesThe
Container Shipping Looks Strong in 2021 - BIMCO
In the full year of 2020, global container shipping volumes fell by 1.2% compared with 2019, much less than feared even before the pandemic was first declared, and much recovered compared with the 6.8% drop recorded in the first six months of the year. Volumes in the second half of the year were up 4.
BIMCO: Tanker Market Hangover Continues
Tanker shipping was in many ways the odd one out of the shipping sectors in 2020; at the start of the pandemic, the market was strong, only to finish off the year in the doldrums, while the other sectors stayed profitable. Even a demand boost in December only managed to lift earnings slightly, raising the question,
BIMCO: Agriculture Exports Make "Stunning Comeback"
BIMCO notes stunning comeback to Q2 agricultural exports nearly triple freight ratesAs agricultural dry bulk commodities exports took a dive in the first quarter of this year and painted a gloomy picture for Panamax and Handymax freight rates, a stunning second quarter comeback have nearly tripled freight rates.